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CSPAN
Dec 4, 2012 8:00pm EST
to stress the need for elected officials to act. for not only has the passage of time exacerbated some of the economic problems, it has revealed a perhaps equally-dangerous political one. our inability to grapple with pressing fiscal challenges represents nothing less than a crisis in our democratic order. compounding the instability and unpredictability in a volatile world. our propositions for this coalition are simple. the national security of the united states depends on its economic health. that health must be insured by averting the immediate crises and by laying the groundwork for a rigorous, long-term program of debt reduction, smart investment, economic growth and lower income inequality. in national security spending, we can target investments much more efficiently in response to threats that are evolving before our eyes. and resources need to be shifted toward nonmilitary elements of our national security posture. in the immediate term -- and by that i mean over the next four weeks -- we must avoid driving our country over the fiscal cliff. no partisan ideology is worth the
CSPAN
Dec 9, 2012 10:30am EST
, that needs to be increased. it would be nice to extend it at the next presidential election. it would be nicer to get rid of it altogether. it is anachronistic law that is a problem. it creates a great deal of uncertainty. as you can see, it can do a lot of damage to the economy. there are a lot of reasons why it is being considered to eliminate that ceiling. it should be carefully considered. at the very minimum, we should push this to the other side of the election. we do not want to address the debt ceiling on a regular basis. it is damaging confidence. on fiscal sustainability, we need deficit reduction in the next 10 years of about $3 trillion. to get there, a balanced approach would be $1.4 trillion in tax revenue. half of that would come through tax reform and the other half through higher tax rates. $1.2 trillion in cuts to programs -- medicare and medicaid, social security, and other budget items -- that would leave you with approximately $400 billion in interest savings. at all of that together and you get $3 trillion. the spending cuts were implemented as part of the budget
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